Monday, March 29, 2010

40 MILLION IN POVERTY

Just in from Daily Finance. .  .

Living in Poverty: 40 Million Americans, Including Children and Working Poor

By SAM GUSTIN
Posted 6:15 PM 03/17/10 Economy

If the word "poverty" conjures up starving children in Africa, prepare to be shocked: nearly 40 million Americans, or 13.2% of the population in the richest country on the planet, lived at or below the official poverty level in 2008, according to new data from the Bureau of Labor Statistics. That's an increase of 2.5 million over 2007.

What's more, that figure includes 14.1 million people under the age of 18, or 19% of all children, up from 13.3 million and 18% in 2007. In other words, nearly one in five American kids live in poverty.

One of the fastest-growing impoverished segments is the "working poor," adults who spent at least 27 weeks either in the labor force or looking for work. Of the 39.8 million Americans living at or below the poverty level in 2008, some 8.9 million adults were defined as the "working poor," an increase of 1.4 million from 2007.Additionally, 4.5 million families were counted among the working poor in 2008, up from 4.2 million in 2007.

The new data reinforce the toll the Great Recession has taken on working families and the poor across the United States. After three years of annual income increases, the real median household income declined by 3.6% between 2007 and 2008, from $52,163 to $50,303, the Census bureau found.

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3 comments:

Toni said...

I just filed my taxes and I understand. It is so difficult when you have a past that hunts you and your hope is diminished by people that are in position to help you. I just recommitted my spiritual life yesterday. Lets see what happens will keep you posted.

Anonymous said...

I believe that there are around 300 million Americans plus 20 million illegals living in poverty in this country because of the horrendous burden of government spending including spending on social welfare and income redistribution programs.

Stan said...

Excellent article. Good overview of the magnitude of poverty here in the USA. I just wrote 3 blogs on urban poverty as it relates to churches involved in Neighborhood Transformation
stantheurbancheguy